Simple Online Business – Don’t Overcomplicate!
Simple Online Business – I’ve said it a lot of times on this blog. Building an online business is not easy. But it’s simple. So don’t overcomplicate things!
The first thing you want to do is determine what kind of online business model you want to follow. There are a number of different simple online business models you can choose from.
Selling physical products
You can manufacture and produce your own physical products and then market them online. Or you can also sell other people’s products so that you don’t have to do the production yourself and thus can concentrate in selling instead of producing. Go take a look at Amazon’s affiliate program for this. They sell a wide variety of physical goods.
Offline advertising costs are obnoxiously EXPENSIVE. How much does advertising on your local newspaper cost? What about on magazines? Generating customers via online means even if you’re selling physical products is way CHEAPER.
Selling information products
This can also be digital or physical in nature. Digital means you don’t have any production, inventory, and shipping costs. You just need a website (domain and hosting), and customers can get their products by simply downloading them from your website.
When you sell physical information products such as home study courses, print newsletters, CD audios, and DVD videos, you send them to your customer’s door. With this, the above mentioned costs (production, inventory, and shipping costs) apply.
The next simple online business model is selling software.
Everyone needs software. You’re reading this post aren’t you? You’re using your PC or Mac which has an operating system to do it.
This blog is powered by WordPress.org script – which is a software.
Your Word, Excel, PowerPoint, PDF, Photoshop, Firefox – they are all software.
Software has a place in almost every marketplace you can think of. With computers all over the place, you can be sure that the need for software will continue to rise.
You don’t need to understand programming to be able to create your own software. You can partner with a programmer where he does the programming and you do the marketing, or you can pay a programmer to create it for you.
Like I’ve mentioned in this post, you can also sell your expertise and skills to people who are in need of them. However, bear in mind that you’re trading time for money when you do this. You only have 24 hours in a day, and that means that there is only so much you can do in a day.
The way to turn this into a BUSINESS is where you hire people (full time employees and/or freelancers) and ask them to do the work, while you focus in marketing your services and maintain the business.
Do People Know You?
I’ve also said this MANY times (please don’t puke – new readers would definitely want to read about this so please give them a chance to do so) that you MUST let people know about your product or service. If nobody knows about it, nobody is going to buy.
How Are You Going To Accept Payments Online?
A simple online business also needs an online payment processor to process payments. PayPal is the biggest and most popular and I use it for my online business as well.
Buyers do NOT need to have a PayPal account to pay you (but who doesn’t have a PayPal account these days?). They can use their credit card to pay for their purchase and it will work perfectly with PayPal.
Just as you need to do bookkeeping for your online business to know how well your business is doing, you also need to track how many visitors your website is getting and how well you’re doing in terms of converting them into buyers.
You do this by using a free tracking software by Google called Google Analytics.
Repeat What Is Working
After you’ve determined (from tracking) how most of your customers came to know about your product or service, you want to put in more effort and time into that specific traffic avenue.
For example, let’s say most of your customers know about your website via Google by typing a particular keyword phrase. You want to concentrate your effort and time on making that phrase rank on the 1st – 3rd spot on Google.
Building and running an online is NOT easy, but it’s simple. What do you have to say about simple online business?